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The ongoing tariff wars seem to have triggered a rethink among Indian businesses, and a growing number of entities are shifting focus to prioritize domestic markets, a survey of 250 entities released on Thursday said. "Indian firms are rethinking their trade strategies to adapt to evolving market dynamics, with 87 per cent of firms pivoting their focus toward domestic clients, prioritizing local customer needs to ensure stability," the survey of entities having turnovers between USD 50 million-2 billion, said. Over three-fourths of the respondents said that they are reassessing their long-term business strategies in response to changes in trade policies, as per the survey conducted by foreign lender HSBC. Four-fifths of the respondents said they are exercising greater caution in expansion and investment decisions due to trade-related uncertainties. US President Donald Trump has taken a slew of measures on the trade policies front to protect domestic interests, which are different f
Hybrid vehicles have complemented the growth of electric vehicle sales in India rather than competing with the latter, according to a report by HSBC Global Research. Reiterating that the Indian automotive landscape will remain a multi-powertrain industry over the medium to long term, HSBC Global Research said hybrids, CNGs, and biofuels are practical medium- to long-term solutions, while the country moves towards eventual electrification. "We think Strong Hybrid Electric Vehicles (SHEVs) and Battery Electric Vehicles (BEVs) are not cannibalising each other but, rather, are attracting different sets of customers," the report said. In states where incentives are offered for SHEVs, BEV sales have also seen strong growth, it added. "In FY25, the growth in EV sales was similar to the growth in SHEV sales, despite incentives being offered on SHEVs by Uttar Pradesh, the largest PV-selling state in India. This trend suggests that SHEV adoption is having a positive effect on BEV sales," the